Los Gatos Mountains 95033 Real Estate Market

Damp road in a redwood forest similar to those in the Los Gatos MountainsThe real estate market in the Los Gatos Mountains is very different from the “in town” Los Gatos housing market and really deserves its own separate treatment. The mountain area includes areas both in Santa Clara County and also Santa Cruz County, but the data here will reflect only the area within Santa Clara County. Both sides may have a Los Gatos mailing address with the 95033 zip code.

The Real Estate Report for the Los Gatos Mountains is updated each month with the RE Report info, but the Altos Research live chart automatically updates weekly, so please stop by often to get updated information.

(If you are viewing this on a mobile device, the table below will scroll if you swipe it.)

Trends at a Glance: Los Gatos Mountains 95033

Check out the FULL Los Gatos Mountains RE Report by using this link.

This is a great market for home buyers in the Los Gatos Mountains as sale conditions are fairly soft overall. As always, though, it’s on a house by house basis – it depends on the home’s exact condition, location, and pricing strategy.

Trends At a GlanceMar 2024Previous MonthYear-over-Year
Median Price$1,800,000 (+7.5%)$1,675,000$1,015,000 (+77.3%)
Average Price$1,767,640 (+5.1%)$1,681,670$1,115,000 (+58.5%)
No. of Sales15 (+400.0%)3(+275.0%)
Pending13 (-13.3%)15(+85.7%)
Active18 (+50.0%)1223 (-21.7%)
Sale vs. List Price98.5% (+2.8%)95.9%95.9% (+2.7%)
Days on Market76 (+108.4%)3645 (+69.2%)
Days of Inventory36 (-67.9%)112173 (-79.1%)

And the month before:

Trends At a GlanceFeb 2024Previous MonthYear-over-Year
Median Price$1,675,000 (+50.5%)$1,112,940$475,000 (+252.6%)
Average Price$1,681,670 (+53.3%)$1,096,810$708,333 (+137.4%)
No. of Sales(-50.0%)6(0.0%)
Pending15 (+150.0%)6(+87.5%)
Active12 (-36.8%)1912 (0.0%)
Sale vs. List Price95.9% (-1.2%)97.0%95.7% (+0.2%)
Days on Market36 (-49.8%)7272 (-49.5%)
Days of Inventory112 (+17.9%)95108 (+3.7%)

 

 

95033 Real Estate Market – Los Gatos Mountains

Each week, my subscription to the Altos Research Report for the Los Gatos Mountains is automatically updated. Click on the link to view it, or subscribe if you’d like an update emailed to you regularly. You can also click on the link to check other nearby zip codes. Some of 95120 or 95032 can be in the rural areas, too, so check a zip code map in case the area that interests you is closer to Mt Umunhum, over Saratoga, or some other location.

As of the most recent Altos update this market is a mild seller’s market.

 

The mountain communities are many and diverse, so issues in one area, such as too much inventory or not enough listings, may be the opposite somewhere else.

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Los Gatos and Saratoga Condominium and Townhouse Market

Saratoga and Los Gatos are neighbors, but their real estate markets are not the same! Today we’ll consider the condo and townhouse market in these two upscale Silicon Valley areas and view some elements “side by side”. See what you think!

First, let’s have a peek at how fast things are selling. Saratoga & Los Gatos both are at under 3 week for the “days to sell over time”.  Saratoga tends to sell a little better than Los Gatos for condominiums and townhomes, and that’s the case now as well – at least months months, and recently. (Reasons, not sure – perhaps because the location is a little closer to Cupertino and Sunnyvale and the many high tech jobs there.  Or it could be related to the school scores or any number of factors.)

 

Saratoga days to sell over time 2014 - condos

Saratoga days to sell over time 2014 – condos

Los Gatos days to sell over time 2014 - condos

Los Gatos days to sell over time 2014 – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

Let’s check some other criteria and see how they stack up there. Let’s look at the new listings as opposed to the solds.  How far apart are they? (The closer they are, the “hotter” the market. If the solds are going faster than the new listings are coming on, it’s a red hot seller’s market.)   For most of the last year, Saratoga condominiums have been selling and closing faster than new ones have entered the market, or have tied it, except for March and April.  In Los Gatos, same pattern recently of new listings outpacing sales, and in January the closed sales outpaced new inventory.  But overall, it’s close to a tie or there’s a slight leaning toward new listings rather than sales unless you look back to last fall.  So a little bit cooler of a market in Los Gatos by this standard.

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Market Mapper for Los Gatos and Nearby Communities – at a Glance

Below please find a “market mapper” app that will let you click on the various nearby areas (Los Gatos, Monte Sereno, Saratoga, Almaden, Cambrian, Campbell) to see how that real estate market area is doing right now, in real time (updated weekly).  Hope you find it a quick and fun way to get a pulse on this part of the Silicon Valley real estate market!

 


 

 

 

San Jose Housing Inventory and Real Estate Prices

366 houses for sale in San Jose 2-27-2013

San Jose housing inventory is critically low, and this is pushing real estate prices higher and higher.  Home buyers are finding that not only do they get outbid on pricing in this market, they are also out maneuvered on terms as others dare to write purchase contracts with no contingencies of any kind or bring 100% cash to the closing table.

Today we’re going to consider the realty market trends for houses (inventory, pricing and market momentum) in the city of San Jose courtesy of Altos Research, to which I have a subscription, and using some other tools as well.  This is helpful information for area home buyers or sellers to better understand the negotiating lay of the land.  (For newcomers: San Jose represents a little more than half of Santa Clara County and is often reflective of how the rest of the county is doing.)

Let’s start with inventory.  How many houses are for sale today in San Jose? Just turned to MLSListings.com and searched – as of right now, there are a measly 366 single family homes for sale in San Jose which are not under contract.

 

San Jose Housing Inventory 30 days

San Jose Housing Inventory the last 30 days

San Jose housing inventory for the last year

San Jose housing inventory for the last year

 

 

 

 

 

 

 

 

Now let’s look at the trends over the last three years – I marked each year’s peak with the green diamond to highlight the pattern.

 

San Jose inventory of houses for sale over the last 3 years

San Jose inventory of houses for sale over the last 3 years

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Almaden Valley Housing Market by Price Point in June 2010

In Almaden Valley, like in other parts of San Jose and Silicon Valley, some parts of “the market” are hotter than  others.  The real estate sweet spot appears to be homes priced in either the entry level or move-up markets – but things cool considerably as the homes become more elegant, grand and luxurious.  (This appears to be true across all of Santa Clara County: the most affordable homes are still the hottest segment of the realty market.)

Months of Inventory in Almaden Valley

Here’s how the current inventory and sales breaks down, together with the months of inventory, for the Almaden Valley part of San Jose (95120 zip code). Info from MLS Listings deemed accurate but not guaranteed. The “closed” column represents homes closed (houses & duet homes) in the last month.

 

Almaden Houses & Duet HomesFor SaleClosedMonths of Inventory
$900,000 and under33211.57
$900,000 – $1,200,00029221.32
1,200,000- $1,500,00020210
1,500,000- $2,000,00010110
$2,000,000 and up100

 

As you can see, up to about $1,200,000 it’s a very strong seller’s market with less than 2 months of inventory. But beyond that price point, it’s suddenly a completely different market and is instead a very strong buyer’s market.

What about distressed property sales in Almaden?

There are almost no bank owned properties currently for sale or recently closed in Almaden – just 1 in the entry level price band which is currently listed for sale.

There are not many short sales in Almaden: right now just 5 for sale: 3 in the lowest of these five price groups, 1 in the 2nd lowest and one in the highest. Closings among short sales are also few in number: 2 in the lowest price point and one in the second lowest.  The absorption rate or months of inventory among short sales was 1.5 in the lowest price point and 1 month in the second lowest. No closings among higher priced homes that were also short sales in the last month.
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